As Birmingham is expanding with a lot of corporations relocating from London to Birmingham, we are seeing an increase in property prices in and around train stations leading into Birmingham. Prices in Worcestershire, Staffordshire, Shropshire and the Midlands in general have increased substantially due to this. Historically this occurred in Surrey and Kent, where people work in the city but want to live in a quieter, leafier suburb.
Similarly with Birmingham and the West Midlands expanding, demand for commercial warehouse / industrial space is increasing near motorways accordingly. We have noticed an increase in demand for commercial property along the M6, M5 and M54. Prices for commercial rentals due to this has contributed to for a rental increase of 25% - 30% in rent prices from 2020.
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Are you, your friends or family struggling to remortgage? Our in house mortgage advisor can help! There is a new mortgage offer in place whereby the basic criteria is: Must be married, you can use your partners income to top up how much you can borrow. Borrowing up to 70% loan to value Best part is, your partners income does not need to go on the mortgage or application. How does it work? Illustrative example: Mr Smith buys a property in his sole name with an income of £30,000.00 per annum, Mrs Smith is not named on the mortgage however earns £20,000.00 per annum, we use 50% of Mrs Smith income within the affordability. A total income of £40,000.00 to be used in the affordability based on 2 adults living at the property. Miss Johnson wants to remortgage her property and has an income of £45,000.00 per annum, her partner Mr Taylor who is not named on the mortgage but living at the property earns £35,000.00 as a self-employed plumber. A council tax bill is provided as evidence that Mr Taylor resides at the property. £62,500.00 to be used in the affordability Get in touch today to speak to our inhouse mortgage advisor.
We have a property maintenance reporting app, FixFlo. Please fill in as much information as possible on the app and our Property Management team will be in touch! Maintenance Request: https://morganpayneknightly.fixflo.com